I'm considering taking a loan with the Celsius Network and pledging some Dash as collateral. I'm based in the UK and apparently they work under a "sale and repurchase" agreement where I can buy back my Dash at the exact price I sold it at.
Any advice appreciated as to what the downsides could be? Or with the Celsius Network in general.
I know the whole "not your keys, not your coins" and am taking a risk trusting a 3rd party with my coins, but they seem to be a reputable company.... and I'd rather borrow against the Dash instead of selling it to get some much needed cash.
Plus, it'll only be about 10% of my total coins.
via Dash is Digital Cash https://www.reddit.com/r/dashpay/comments/k1gkv1/celsius_network_loan_advice_bad_idea/
Dash is the cheapest, fastest, most secure and first instantly settled Proof-of-Work cryptocurrency in the world. Its network features instantly settled & respendable transactions, 51% attack immunity, optionally private transactions and the first decentralized blockchain governance and self-funding model through incentivized full nodes which also enable easy scaling for mass adoption.